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Mattress Mack is back. He's once again supporting his hometown team — this time, in the NCAA Tournament.
Jim McIngvale, fresh off a record-breaking World Series win where he net $75 million on three separate bets totaling $10 million, just placed another bet on the Houston Cougars to win the NCAA Tournament, according to WLOX. His $500,000 bet would win $5 million if UH (3-0) wins the title (+800).
The iconic furniture salesman placed the bet at the Beau Rivage in Biloxi, Mississippi, this week. It wasn't just for the thrill of it, though. Here's what Mattress Mack said about his massive betting tendencies:
"I make these bets because we do promotions at the furniture store. Like if the Astros win the World Series you get your money back. I won $75 million on that bet, gave back $73 million to the customers and the other $2 million was expenses. It enables us to run these great promotions. People love them especially with local teams like the Houston Astros and Houston Cougars. We’re having fun with these sports promotions, they work very well and it makes us relevant as a furniture store."
Here's a look at NCAA Tournament odds (as of November 16), per BetMGM:
- Houston +800
- Kentucky +900
- Gonzaga +1000
- North Carolina +1000
- Baylor +1100
- Arkansas +1400
- Tennessee +1400
- Kansas +1600
- Arizona +1600
- Duke +1800